Are you still trying to decide if EMR software (speaking of Electronic Medical Records applications) is practical for your business?  We are living in uncertain times and you are correct in thinking that minimizing pointless expenses is imperative.  However, the facts show that electronic health record software makes you more money in the long-run.  Here are 5 considerations that are hard to ignore.

1. Elimination of Paper

By eliminating paper with your EMR system, you save on office space, save on employee payroll (since filing is a non-issue) and save a great deal of wasted time.  Computerized patient charts also save you time, money and a great deal of headache as you no longer have to worry about illegible writing or lost documents.  It’s all stored in the system.

2. Increased Revenues and Faster Accounts Receivable Cycle

You streamline your accounts receivable process and ensure that you get all the money that you have coming to you.  How many times have you lost money because of errors made by staff in managing daily charges?  By reducing missing charges, as well as denied claims (that result because of errors) you are actually increasing your income.

3. The Safety of Patients

Nothing is more important than the safety of your patients.  Errors that result from human imperfection can be life-threatening and very costly.  E-prescriptions (which are highly accurate compared to calling in a prescription the old fashioned way) are saving practices thousands of dollars, as they literally save thousands of lives in the United States alone.  With an EMR system, you can also prevent medication errors and get automated alerts warning about possible drug reactions or unsafe drug combinations.  This feature alone could potentially save your practice from a lawsuit.

4. E-Prescription

Did you know that a Physician can save $15,700 per year by using the ePrescribing feature of a good EMR Software?  Sound too good to be true?  Well it is, and it doesn’t cost you any more time or money when you select the right EMR Software with an up to date and fully integrated ePrescribing function that virtually does it all on automatic pilot while you’re examining your patients.   

5. Improved Reimbursements and Reduced Insurance Premiums

Accuracy of certified EMR and certified EHR programs is so trusted that many malpractice insurance companies are now offering discounts to doctors who use full software systems.  In addition, practice management software can also greatly improve your reimbursement rates as they will ensure your office claims are compliant with insurance company drug formularies and other policies.

These are just a few reasons why electronic medical record software can save you money—even in times of economic recession!